Aberdeen Group plc Makes New Investment in On Holding AG $ONON

Aberdeen Group plc purchased a new position in On Holding AG (NYSE:ONON) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 756,875 shares of the company’s stock, valued at approximately $39,395,000.

Other hedge funds have also bought and sold shares of the company. Bison Wealth LLC grew its position in ON by 35.7% during the 4th quarter. Bison Wealth LLC now owns 9,291 shares of the company’s stock valued at $509,000 after purchasing an additional 2,442 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new position in shares of ON in the first quarter worth approximately $250,000. Wealth Enhancement Advisory Services LLC grew its holdings in shares of ON by 241.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 63,930 shares of the company’s stock valued at $2,808,000 after buying an additional 45,223 shares during the last quarter. Analyst IMS Investment Management Services Ltd. increased its position in shares of ON by 37.8% during the first quarter. Analyst IMS Investment Management Services Ltd. now owns 49,120 shares of the company’s stock valued at $2,157,000 after acquiring an additional 13,480 shares in the last quarter. Finally, Sterling Investment Counsel LLC raised its holdings in ON by 19.1% in the 1st quarter. Sterling Investment Counsel LLC now owns 5,450 shares of the company’s stock worth $239,000 after acquiring an additional 875 shares during the last quarter. Institutional investors own 36.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on ONON. Needham & Company LLC reissued a “buy” rating and issued a $62.00 target price on shares of ON in a report on Tuesday, August 12th. Jefferies Financial Group set a $40.00 target price on ON and gave the stock an “underperform” rating in a research report on Wednesday, August 13th. Morgan Stanley upped their price target on shares of ON from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 13th. Weiss Ratings reissued a “sell (d+)” rating on shares of ON in a report on Wednesday, October 8th. Finally, UBS Group upped their price target on shares of ON from $75.00 to $79.00 and gave the company a “buy” rating in a research note on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $64.20.

ON Stock Down 3.2%

Shares of ONON opened at $41.93 on Monday. The company has a quick ratio of 2.00, a current ratio of 2.53 and a debt-to-equity ratio of 0.31. The stock’s 50-day moving average price is $44.61 and its 200-day moving average price is $48.72. On Holding AG has a 52 week low of $34.59 and a 52 week high of $64.05. The company has a market capitalization of $26.40 billion, a price-to-earnings ratio of 93.18, a PEG ratio of 5.20 and a beta of 2.19.

ON Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.